Now showing items 1-5 of 5
Does Product Liability Make Us Safer?
Product liability law is intended to create an environment that fosters safer products. However, this law often has adverse consequences. Some of the problems stem from the inherent nature of product risk decisions and the ...
Law and Economics as a Pillar of Legal Education
(Review of Law and Economics, 2012)
This paper reports the distribution of doctoral degrees in economics and in other fields among faculty at the 26 highest ranked law schools. Almost one-third of professors at the top 13 law schools have a Ph.D. degree, ...
The Value of a Statistical Life: Evidence from Panel Data
(Review of Economics and Statistics, 2012)
This article addresses fundamental long-standing concerns in the compensating wage differentials literature and its public policy implications: the econometric properties of estimates of the value of statistical life (VSL) ...
An Investigation of the Rationality of Consumer Valuations of Multiple Health Risks
(The RAND Journal of Economics, 2012)
After developing a conceptual analysis of consumer valuation of multiple risks, we explore both economic and cognitive hypotheses regarding individual risk-taking. Using a sample of over 1,500 consumers, our study ...
Product Liability and Regulation: Establishing the Appropriate Institutional Division of Labor
(American Economic Association, 2012)
Society has several institutional mechanisms that promote the control of product health and safety risks and compensation of the income losses that these risks generated. For risks traded in the market, economic forces at ...